Credit Suisse traders improperly shared information to manipulate currency prices and benchmark rates, and took advantage of its electronic trading platform to trade ahead of known client orders, the New York State Department of Financial Services said.

The bank used an algorithm to engage in front-running - using non-public knowledge of an impending transaction - on limit and stop-loss orders from its customers.

Multiple banks have been fined since the financial crisis for manipulating foreign exchange trading, including HSBC, Citigroup, JP Morgan and RBS.

NY regulators have accused more than a dozen traders and salespeople working for the Switzerland's second-biggest bank of manipulating the $5.3 trillion a day forex market and other illegal activity over the course of eight years, running up to 2015.

Credit Suisse said it was "pleased to have reached a settlement with the DFS that allows the bank to put this matter behind it", and said it did not admit to any findings. The company said it would record a pretax charge related to the settlement in its fiscal fourth quarter.

Apparently, Credit Suisse utilized a range of measures that included chatroom cartels, anti-competitive business practices and software created to automatically swindle the Swiss banks own customers, the "New York Post" wrote in an article on Tuesday.

From April 2010 to June 2013, Credit Suisse also allegedly used an algorithm created to trade ahead of clients' orders before they were able to go through.

Credit Suisse earlier this month announced that quarterly profits had soared nearly six fold to $244 million as the company proceeds with restructuring and cost cutting.

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